Stop Chasing Leads That Won’t Buy

Today’s Skill: Qualifying To Buy

One question I get alot: “Why does my prospects interest fall off even though they seem so excited at the beginning?”

It could be many reasons. I’m going to share one that often goes unnoticed and ends up costing you so much time and energy.

It’s around qualifying.

But, it’s not just qualifying if they fit your product.

It’s qualifying if they should even be searching in the first place.

Story time

I remember speaking with a prospect at a local government about the permitting software I was selling. They came in through a lead and were interested in looking at our solution. They were currently using another product that had been implemented 4 years prior and was curious to see what was out there.

But, 10 minutes into the call I discovered a big problem.

→ They weren’t serious buyers.

How did I uncover this:

1. I found out the Director (who I was speaking with) was a couple months into her role and hadn’t used the current solution much at all.

2. I uncovered that she hadn’t spoken with her staff about the current software and how it was working for them.

3. When asked directly, she couldn’t tell me what they were looking for exactly and what problems they were needing to solve.

I learned a lot from our short call but the most glaring thing was this:

They didn’t have a need to buy.

So, despite the fact that they were interested, reached out to us, or were willing to leave their current software, I turned them away. I disqualified them.

You might be thinking…”Brian, are you nuts? They were totally interested.”

Yes, they were interested.

But interested people don’t buy.

People needing to solve a real business problem do. And they didn’t have one.

They were far too early to be exploring for software. They didn’t even know if they had problems they needed to solve. They hadn’t done the work yet.

How You Spot The “Interested” vs “Serious” Buyers

1. Find out where their interest is coming from

→ Interest doesn’t always mean action.

Problem: Too often we hear “I’m interested in doing X” and the first thing we do is say, “Great, I can help you do X. Let me show you.”

Solve: We need to ask things like, “Why are you interested?, Why does it even matter to invest time into this?, What problem is this causing for you?, What have you tried before?”

This is going to seem counterintuitive but when someone comes to you and says, “I need exactly what you offer” that should give you pause. It doesn’t mean they don’t, it means you should want to know how they know that. What work have they done in the background to know that? What experiences led them to you?

2. Are they willing to put in the work?

→ Is someone looking for a “quick fix” or are they willing to invest time to make it right.

Problem: They come to you telling you the problem they have and the solution they need.

Solve: Find out where the urgency came from. Questions like, “How did you come to that conclusion that you needed that solution?, “How long has this been going on for?”, “Why are you needing to solve this right now?”, and “When are you needing to make a decision by?” help you understand the timing and seriousness of the decision.

Often times, the prospects that come in fast and leave just as quick are the ones that have the right answers. They know exactly what they need. All of their problems are going to go away if they just have this one feature. We know it’s not that easy and there are underlining issues they aren’t telling us. If there isn’t a massive challenge that was just discovered or a nagging problem that’s been eating away at their business then they won’t likely buy something right now.

3. How will they know when it’s the right fit?

→ Is it a “gut feeling” or do they have a way they are making this decision

Problem: They tell you “i’ll know when I see it”

Solve: Ask, “What decision criteria are you using to find the right solution/partner to work with?”

People tend to buy with emotion and justify with logic. However, with no real criteria how will they know when it hits the mark? Nobody goes to the car dealership and says, “I need a car.” They might say, “I’m not sure what car I need but I have 3 kids and they are active in travel soccer.” Okay, well that’s decision criteria. We just weeded out 70% of the vehicles. We should always find out what our prospects criteria is.

Anyone that doesn’t have some decision criteria isn’t serious. Nor are they prepared to find the right solution for their situation. If they do buy, it’s often a haste decision and they choose the cheapest option.

Final Thoughts:

Showing cool features doesn’t make someone buy. It has to satisfy a need.

What if they don’t have a need right now but are really interested?

You have two paths:

1. You try to help them go from not having a need to having a need.

2. You help them go find it out for themselves.

Change is very hard for people.

Uncovering a problem is one thing. Being willing to change it is entirely different.

My approach:

I want to work with people that are willing to put in the effort to change. If I give them homework and they come back to me in a week and are like, “Here’s what I found out, let’s talk more” then I’m all ears.

More times than not, they won’t do the work. They won’t make the effort. They won’t change. Likely, because there wasn’t a big enough problem in the first place.

I’m not saying don’t do your demos or have multiple calls with prospects to build rapport and find where you align. I’m not saying that at all.

What I am saying is that it comes down to time.

I want you to spend more time with serious buyers.

Those are the ones who show up. Those are the ones who invest in their business. Those are the ones who stick around and become great advocates of your business.

When you choose to work with serious clients, the quality of your clientele improves.

Your Action Items:

I want you to think through what criteria you are going to use to qualify.

Put a short list together of 3-5 “must haves” to qualify.

Having a hard time? Ask yourself, “What are the things all of my best clients have in common?”

Find a through-line and use that as a starting point.

Want to be held accountable? Reply to this email and send me your list. I’ll also provide feedback if you ask for it.